Which of the following is used by companies to separate cash duties and establish stronger control over cash receipts?
A) an encryption system
B) an imprest system
C) a lock-box system
D) a firewall system

Question

Quizplus · Accepted Answer

A lock-box system is used by companies to separate cash duties and establish stronger control over cash receipts by having the payments mailed directly to a bank or financial institution, thus reducing the handling of checks by company employees and speeding up the collection process.

Which of the Following Is Used by Companies to Separate